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EdR Fund Euro Long Duration Govt Bonds Government bonds

Government bonds
NAV (22/02/2017)
15,725.65 EUR
François  RAYNAUD–LU1160371578–
François RAYNAUD
Eliezer BENZIMRA–LU1160371578–
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
Recommended holding period
> 5 years
15,725.65 EUR
NAV (22/02/2017)
Risk and reward profile
> 5 years
Recommended holding period
NAV (22/02/2017)
15,725.65 EUR
Risk and reward profile
Recommended holding period
> 5 years
François RAYNAUD  
Eliezer BENZIMRA  
The identity of the managers presented in this document may change during the life of the product.

Investment objective

The objective is to outperform the Barclays Euro Treasury AA-AAA 10+Yr Index on the recommended investment period.

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Commentary 31/01/2017

Bond market performance varied from one region to the next in January. While interest rates have generally risen on yield curves across the board, US bond markets posted a marked outperformance. January also saw Donald Trump acceding to power in the United States, and the new president's polemical declarations on key political and economic issues generated high volatility on the currency markets. The USD depreciated as a result, impacting US government bond rates, which remained relatively sedentary, while those in Europe rose. The continued monetary tightening across the Atlantic was not called into question, as illustrated by Janet Yellen. In January she pointed out that the US economic position was close to the Fed's objectives, both in terms of employment and inflation. In Europe, markets recorded widening spreads on most government debt compared to Germany's. France saw its spreads getting wider, given multiple uncertainties with respect to the candidates standing in the next presidential election. Italy, meanwhile, suffered from its Constitutional Court's decision to authorise partial amendments to electoral and labour law. On one hand, this illustrates how difficult it is to reform the country, and on the other, it heightens the risk of early elections. During the month, the fund stepped up its bias for a steepening 10-30 year yield curve.

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Change in NAV

Chart – Base 100 (22/02/2017)
You are about to download the historical data for a portfolio. Please note that past performance is not an indication of future performance and it may vary over time. They may be affected, for example, by changes in exchange rates


Performance I-EUR Cumulative performance Annualised performance
Since 01/01/2017 -3.55 %  
1 Year -1.37 % -1.36 %
3 Year 25.53 % 7.86 %
5 year 44.02 % 7.56 %
Since inception 57.26 % 7.87 %
Performance I-EUR Since 01/01/2017 1 Year 3 Year 5 year Since inception
Cumulative performance -3.55 % -1.37 % 25.53 % 44.02 % 57.26 %
Annualised performance -1.36 % 7.86 % 7.56 % 7.87 %


VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year 1 Year3 Year
Share class I-EUR8.52 %11.13 %3.28 %3.76 %0.95 %0.94 %0.35 %-0.19 %-0.13 %0.75 %
Benchmark10.05 %11.45 %
1 Year1 Year3 Year
Share class I-EUR0.01 %0.81 %0.92 %
Share class I-EUR
1 Year 3 Year 1 Year 3 Year
Volatility 8.52 % 11.13 % 10.05 % 11.45 %
Tracking Error 3.28 % 3.76 %
Sharpe ratio -0.13 % 0.75 %
Alpha 0.01 %
Correlation coefficient 0.95 % 0.94 %
Information ratio 0.35 % -0.19 %
Beta 0.81 % 0.92 %

Fund information

Inception Date (Fund)
Inception Date (Part)
Legal form
BarCap Euro Treasury AAA-AA 10
Currency (fund)
Currency (share class)
Distribution Policy
Valuation frequency
Minimum initial investment
500000.00 EUR
AuM (fund)
29 M (EUR)
Regulatory authority
EU Regulation
Management company
Edmond de Rothschild Asset Management (Luxembourg)
Delegated Management Company
Edmond de Rothschild Asset Management (France)
Maximum management fee
0,300 %
Current management fee
0.300 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value

Fund documentation

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(1) The rating grades the funds on a scale from 1 to 7. This rating system is based on the average fluctuations of the net asset value over the past five years. It corresponds to the variation range of the portfolio upwards and downwards. If the net asset value is less than 5 years old, the rating is determined by other regulatory calculation methods. Historical data such as those used to calculate the rating may not be a reliable indication of the future risk profile. The current category is neither a guarantee nor an objective. Category 1 does not signify a risk-free investment.